Ecommerce - Current scenario in India
Add to Cart and order whatever you fancy. Be it a pin or a plane.
Everything is within our fingertips. This big bucks business may seem complex to grasp or comprehend but it has been a cake walk in the Indian Scenario.
To truly understand the growth of E commerce , all we have to do is to get back to basics.
The growth spurt of the usage of Android phones of have penetrated to about 100 percent in the year 2016, according to Wikipedia.
Gone are the days when shopping was a long awaited family outing , we have become so busy with our lives that we don't wish to step out in the sun and buy things. When the whole world is brought into the palm of your hand , who will ?
To add to this phenomenal growth of online shoppers , there was free 4g by a famous mobile network company. Business will obviously soar with these kinds of sudden perks to all human beings.
The big winners in this sector are electronics, retail and Baby needs. This is also because famous brands were introduced and they made it possible to shop some gadgets only online.
Just like other businesses, this sector has also faced some downhills. Companies like Dhingana and Seventy MM have shut down due to major loss. Reasons for these maybe lack of funding and advertisements as their rivals. On the other hand, some very humble start ups have boomed into billion dollar companies today.
India, being one of the biggest growing countries of the BRICK family, contributes about 51% in the Industry and it is the highest leading thus far, way ahead of her rivals, Japan 11% and China 18%. This is according to a joint study by ASSOCHAM Forrester study paper.
Another major advantage for these online retailers is that, many of their customers are regular buyers. Not every online shopper, buys based on the "need". Retail therapy is a humongous way to vent out situations like depression and anxiety attacks, so when there is an urge to splurge , there's no looking back. We have many youngsters shopping their hearts away. This is not possible in the regular shopping where you have to have to commute to the place and get all tired and return home.
It's rather, buying it cheap online and even if it means waiting for a couple of days ' time. Why not ?
But the true beauty of Online shopping was truly appreciated by the Indian customers during the demonetization of some currency notes. This is when every Indian panicked and looked for a solution to provide bread on the table for his family. Although , the move was made to retort crime and black money , the simple common man was affected the most. Whilst standing in long cues and taking cash out of ATms was a big hassle, online shopping was a major sign of relief.
Well, if you had little children in your families and even buying groceries was available online , won't you call the concept of big business a boon ?
In conclusion , to truly understand the situation of E commerce in India , you don't have to be a Business analyst or a marketing big wig, Just take a look around , do u have shopping apps on your phone ? Do your friends shop online ? There you go , you have your answer